They also benefit from lower servicing costs compared to their bank servicer peers who face more stringent regulatory and financial requirements.

Which ever way you go there are many properties in PA that are delinquent in taxes and can be purchased for as they say, pennies on the dollar or a very little amount comparatively. 

So I am in a situation currently where I put a "strong" offer on a duplex that previously had an offer on it.I heard back from my buyers agent that the other offer was comparable and they are NOT giving me the ability to submit a higher offer but keeping my offer as a back-up.

Compare this to a property in which we bought vacant and did a complete interior and exterior rehab, but the tenant is qualified but not established. 

Check out www.Rentometer.com for comparable rents for your area, or www.hotpads.com

I did get movement from lender that allowed some conversation.  

I decided to start investing on income properties in Bakersfield California, due to the better cap rates and better roi compared to the Los Angeles area where i live.

@Wayne - How do the rates on a renovation loan compare to a conventional mortgage?

The odds of you going to court and losing so much that insurance won't cover the loss is probably comparable to being struck by lightning twice.Treat people honestly and fairly.

In my location the houses are relatively expensive compared to the rental rates.